Offshore accommodation rig providers Floatel and Prosafe have called off their proposed merger amid objections from competition regulators in Norway and the UK.The all-stock merger, proposed in June 2019, had promised to create the world’s largest offshore accommodation company with…
Offshore accommodation provider Prosafe has forecast a tougher year ahead, compared to 2019, expecting a drop in flotel rig fleet utilization and day rates falling.The company on Thursday reported a quarterly net loss of $13.3 million (compared to a loss of 35…
The proposed merger between Prosafe and Floatel, two of the largest offshore accommodation providers, has hit a stumbling block in the UK after an in-depth review by the competition authority said the deal 'raises competition concerns.'The two…
Offshore accommodation specialist Prosafe has agreed to sell the Safe Bristolia flotel for scrap.In an operational update for the fourth quarter of 2019, Prosafe on Monday said that it had entered into an agreement to sell the Safe Bristolia…
The largest and most versatile fleet of semi-submersible accommodation vessels in operation worldwide Prosafe SE has missed its final payment to China’s Cosco shipyard for the Safe Notos flotel.Offshore accommodation specialist informed last…
Norwegian accommodation services player Prosafe has filed an appeal against the Norwegian Competition Authority (NCA)’s rejection of its proposed merger with Swedish rival Floatel International.The merger would create the world's largest fleet of accommodation rigs - a North Sea giant…
The Norwegian Competition Authority has rejected the proposed merger between Scandinavian offshore accommodation/construction support providers Prosafe and Floatel.Oslo-listed accommodation services player Prosafe in a press release said that it will study the decision in detail…
The Norwegian Competition Authority is considering blocking Prosafe's acquisition of its competitor Floatel International Ltd on the grounds that the combined firm would dominate its market, it said on Monday.The two companies are the only providers…
Equinor has exercised the fourth of six available one-month options to extend Prosafe's accommodation vessel Safe Boreas at the Mariner project in the UK sector of the North Sea to accommodate personnel working on Mariner in the hook up and early production phase through October 2019…
Norwegian flotel player Prosafe said that the utilization of its offshore accommodation rigs reaching the highest level in almost four years.Prosafe lifted fleet utilisation significantly in the second quarter of 2019 was 71.6 per cent (Q2 2018: 45…
Prosafe SE, the owner/operator of semi-submersible accommodation vessels, said has signed a contract with Total E&P UK Limited for the Safe Caledonia flotel to provide accommodation support at the Elgin complex in the UK sector of the North Sea…
Norwegian multinational energy company Equinor said that its subsidiary Equinor Brasil Energia has awarded a contract to the offshore accommodation specialist Prosafe for the Safe Concordia.As per the contract, Safe Concordia, a dynamically…
Prosafe and Floatel announced Monday that they have agreed to merge, creating the world’s largest offshore accommodation provider.Oslo-listed Prosafe will acquire Floatel with consideration in Prosafe shares, whereby Floatel’s principal shareholders will become large shareholders in Prosafe…
Olso listed semi-submersible accommodation vessels operator Prosafe said it has signed a contract with Petrobras for the provision of the Safe Eurus semi-submersible vessel for safety and maintenance support offshore Brazil.The three-year firm…
European owner and operator of semi-submersible accommodation vessels Prosafe has won a contract to provide a ship to support offshore activities in the Central Mediterranean Sea.Prosafe, acting as commercial managers for the Axis Offshore-owned accommodation vessel Safe Swift…